Wednesday, February 20, 2008

California City could be first to declare Bankruptcy

Link HT: Steve Bartin

"We've been spending more than we've been making for 20 years and it's time to pay the piper," Gomes said.

Newly elected Mayor Osby Davis is downplaying the possibility, NBC11's Jodi Hernandez reported.

"I like to look on the positive side," Davis said. "I'm confident we're going to be able to work this out without having to file bankruptcy. It's not an alternative we want the public to believe we're moving toward with any intention.

"Council members Joanne Shivley and Gomes have announced they will host a community town hall meeting this Thursday to discuss bankruptcy.